281 Lamartine St
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281 Lamartine St
3 Unit Apartment Building $3,150,000 ($1,050,000/Unit) 6.71% Cap Rate Boston, MA 02130
Investment Highlights
- Brand New Construction
- Outstanding 1031 Exchange Option
- A+++ Location
Executive Summary
BRAND NEW THREE FAMILY, FULLY LEASED AND PRODUCING OVER $232K ANNUALLY! Beautifully designed and built, each unit features 4 bedrooms/2 bathrooms, private outdoor space + parking. Enter into huge open floorplan living areas w/bay windows, plenty of room for living + dining furniture, access to side porches + beautiful kitchens w/shaker cabinets, quartz counters + gas cooking. The bedrooms are all spacious, and the primary bedrooms have walk-in closets. There are two bathrooms in each unit, one with a tub + one with a shower, and all are clad in beautiful tile w/high quality fixtures. Added perks include hardwood floors, crown moldings, in-unit laundry, 3 car parking and superior life safety protection w/sprinkler + fire alarm. AN OUTSTANDING INVESTMENT/1031 EXCHANGE. Additional buildings available. See agent for details.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$232,800
|
$49.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$232,800
|
$49.04
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$21,286
|
$4.48
|
| Net Operating Income |
$211,514
|
$44.56
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $232,800 |
| Annual Per SF | $49.04 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $232,800 |
| Annual Per SF | $49.04 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $21,286 |
| Annual Per SF | $4.48 |
| Net Operating Income | |
|---|---|
| Annual | $211,514 |
| Annual Per SF | $44.56 |
Property Facts Under Contract
| Price | $3,150,000 | Building Class | C |
| Price Per Unit | $1,050,000 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 4,747 SF |
| Cap Rate | 6.71% | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2022 |
| Property Subtype | Apartment | Parking Ratio | 0.63/1,000 SF |
| Apartment Style | Low Rise |
| Price | $3,150,000 |
| Price Per Unit | $1,050,000 |
| Sale Type | Investment |
| Cap Rate | 6.71% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 4,747 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2022 |
| Parking Ratio | 0.63/1,000 SF |
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 3 | $6,400 | 1,280 - 1,462 |
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Walk Score ®
Very Walkable (88)
Bike Score ®
Very Bikeable (84)
zoning
| Zoning Code | R3 (Residential, multifamily) |
| R3 (Residential, multifamily) |
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281 Lamartine St
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